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China tech

China's ByteDance buys 30% stake in Hupu Sports for $180m

Investment beefs up content for operator of TikTok video sharing app

ByteDance streams highlights of National Basketball Association games via TikTok and other mobile platforms.   © Reuters
GAO XIAOQIAN, 36Kr | China

BEIJING -- ByteDance has acquired a 30% stake in online sports content platform Hupu Sports Media for 1.26 billion yuan ($180 million).

The deal will increase ByteDance's sports content that it streams via its TikTok video sharing app while boosting Hupu's capital prior to an expected initial public offering.

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